• Ehab Khamas

How to Turn $6 to 1 MILLION Dollars — TAX FREE!

Today, we will talk about how to become a Tax-Free millionaire, by investing $6 a day, into a Roth IRA.


IRA stands for Individual Retirement Account. Roth basically means “after-tax”, which is your take-home money. What I will be sharing with you today, is simply how to grow your money and become a millionaire, using a Roth IRA account.

I’m a CPA and I deal with clients on a daily basis. The major issue that I see is that people do not have enough saved for retirement. While 71% of Americans have a Savings account, the average balance in their savings account is less than $5,000. At the same time, one THIRD of the country have less than $1,000 in their savings account. This is definitely unacceptable.

According to the National Institute on Retirement Security, almost 40 million households have no retirement savings at all.

I’m here to tell you, by you investing as little as $6 a day, you will have a MILLION dollars by the time you retire. You can’t tell me you do not have an extra $6 per day. All of us would spend $6 on random stuff that we don’t need. Let me walk you through the numbers.

The S&P 500 index is basically America’s largest publicly traded companies and is considered the benchmark measure for annual returns. When investors say “the market,” they mean the S&P 500.



The S&P 500 has been averaging a 10% return per year, for the past 100 years. Some days the market will be up, and some days it will be down, but overall it has returned an average of 10%.

So, if you take $6 per day, invested it in the S&P 500 index in a ROTH IRA account; from the age of 25; you will have 1 MILLION DOLLARS by the time you retire. Obviously you will need more money invested if you are starting later than 25, BUT it is still doable. Let’s say you start when you are 30 years old; you will only need to invest $10 a day to become a millionaire by retirement. Same principle applies to other age groups. So the sooner you start, the better.

The great thing about Roth IRA accounts, is that you do not pay any taxes when you retire. The gains and all the growth you have in your account, is absolutely tax FREE.

With a Traditional IRA, you are required to start taking withdrawals by a certain age, regardless whether you need the money or not. It is another way of the IRS saying, we waited too long and you are still alive, so it’s time to cash out into your IRA so you can pay us taxes on it. This is the great benefit of a Roth IRA, is that it is RMD-free: which basically means there are no Required Minimum Distributions. You can keep all your money invested for as long as you’re alive.

One last benefit of a Roth IRA, is that even if you never need the money; and you had a decent job even close to retirement; then once you pass away, your family and kids will also get the money TAX-FREE.

So there is no excuse for you to not start today. There are tons of online brokerage firms where you can simply register, and put your investment on Auto-deduction; so it can be automatically withdrawn from your bank account and forget about it. You will thank yourself later in life when you realize you became a millionaire because of a $6 per day investment.

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